Gg Mid Year Update
July 1, 2024
3
min. read
I’m excited to be writing to you after a brief hiatus on our monthly newsletter. Today will be brief, but we want to review the first 6 months of the year, as well as what to expect for the remainder of 2024. Let’s dive in…
Wow, it was a great first half of 2024 especially as it relates to the equity market with the S&P gaining 14.5% and nearly all indices closing at or near record highs. So far the S&P has had more than 30 record high closes this year, despite hot inflation data derailing the expected time and amount of rate cuts by the Federal Reserve.
Much of these gains were concentrated in the Magnificent 7 big tech names with Nvidia leading the way on the back of record earnings. The impetus for all of these new highs in the indices is just what it fundamentally should be...strengthening earnings and rising dividends.
Bloomberg’s current estimates for S&P 500 earnings to increase by close to 9% this year followed by another 14% increase in 2025. Just like before, companies learn and adapt through adversity and come out the other side more efficient, better run and more profitable. Thus the owners of these companies benefit with continued rising prices and increasing income in the form of dividends.
Everyone will be on edge with the upcoming election and I’m sure the media will lean into that with another manufactured "crisis du jour" of one kind or another in an attempt to spread panic and fear (as they always do).
Not to worry, we'll have you covered.
We'll help you tune out the noise and focus on what matters.
What about the upcoming election? Covered it here.
What about a recession? Been there done that.
What about a market decline? Here’s exactly what to do if that happens.
The reality is there will always be something to worry about.
The greatest companies in the world, however, will continue to adjust, improve and advance. They will continue to increase their earnings and dividends at a rate much faster than inflation.
And life will go on.
Plan with Gg ---> Live Your Best Life.
That's it.
Meeting with us annually helps you tune out the noise, focus on what matters and live your life to the fullest.
And grow your wealth substantially in the process.
You'll have peace of mind, purpose, and financial clarity.
We'll handle what comes our way just like we have every time before.
The key to successful lifetime investing comes down to three critical components:
Patience, Discipline, and Faith in the Future.
None of these are possible without a clear financial life plan.
That’s why we exist.
We believe in our plan.
We love what we do.
We love what we own in client portfolios.
And it works.
Thank you for working with us.
It’s a privilege to get to serve you each and every day.
Have a great week and Happy 4th of July!
